Everyone knows the sad story of loans gone bad, or should it be greed gone bad.
I feel sorry for this person, with only 300k to invest should not have been allowed to do what they did. But it was thier descision to do so, i wonder how much experience in developing/building they had had.
Our banking system/regulations in Aus are pretty good that is one of the defining factors that the GFC didnt hit as hard here.
It is my descision to go into the ocean if i get eaten/drown, it was my descision.
I had swimming lessons before i entered the water, kite lessons before pulling on the board, sharks are still out there.
I work with/for some very rich people most of them are ok and i wont be selling my house anytime soon pete.
I love your comments petermac on one hand you are saying sell/sell invest/invest and then you elude to that money doesnt matter to you. Why the interest ? Its like watching porn after a castration.
If your sister had done what you said and lost all her money what would your response have been i wonder.
Consistency is the key to wealth(of any kind).
